As a business owner in the greatest mega-region to grow a business, I believe in a balanced approach to resolve the challenges of Sequestration. I do not agree with $1.2 trillion in net cuts, nor do I agree with $1.2 trillion in net new revenue. I support a mix of $400 billion in agency cuts, developed by agencies themselves and not Congress; $400 billion in entitlement savings (as offered by the President); and $400 billion net new revenue (as is painfully going to be developed by the Speaker).

Together, this balanced plan will achieve $1.2 trillion in deficit reduction while still increasing economic demand and opportunity for all Americans.

Economic growth is the cure to a fiscal cliff. The key to generating economic growth is through providing individuals the incentive to earn more from their risk taking and extra efforts to succeed. Companies and individuals can only spend “after tax” revenue, which then ultimately stimulates the economy. Take away companies’ and individuals’ “after tax,” spendable income and the economy will be depleted of economic growth.

Supply-side visionaries such as John F. Kennedy and Ronald Reagan understood this philosophy and in fact at this point in Reagan’s presidency the gross domestic product, GDP, exceeded 6 percent. More recent fiscal policies have tried to stimulate the economy by borrowing and spending trillions of dollars via government programs only to generate a struggling 2 percent GDP. Remember, tax revenue is based upon the success of individuals, companies and ultimately the economy. Can you imagine the tax revenue difference between the current 2 percent GDP versus a 6 percent GDP?

Phil Blair, CEO of Manpower San Diego, a staffing agency

Phil Blair, head of Manpower in San Diego, says he's seeing a trend of companies looking for more flexible workers.
— Peggy Peattie / U-T photo

Phil Blair, head of Manpower in San Diego, says he's seeing a trend of companies looking for more flexible workers.
— Peggy Peattie / U-T photo

Everything in moderation. We did not get into this situation in one year, so the solution will take multiple years. Other than an across-the-board, reasonable percentage cut to all federal budgets, we need to return the federal government back to federal issues and wean states from federal financial support.

For revenue increases I suggest we look at lowering the deductible interest limit on home mortgages, cut federal education budgets since education should be a state issue, and a short term, sun setting, federal sales tax that will affect all states equally.

For cost cutting I would suggest looking at the effective age for qualifying for Medicare and Social Security. For people of very high net worth, Social Security payments should stop once they receive back all of the monies they have paid into it, plus what their employer paid and any interest earned.

The mysterious tax “loopholes” should be closed and fair, simplified income taxes paid by all citizens.